Construction of 2 new power units underway at South Ukraine Nuclear Power Plant
Ukraine relies on nuclear power for more than half of its energy production, which is increasingly in demand amid Russia's attacks on Ukraine's energy infrastructure.
Business
European Commission approves $4.3 billion for Ukraine under Ukraine Facility program
"As we're approaching the 1000th day of Russia's atrocious war, we will help keep the Ukrainian state running while the country fights for survival. We are in it for the long haul," Ursula Von der Leyen said.
Chinese oil refinery buys West African crude instead of Russian, Iranian, Bloomberg reports
Private Chinese oil refinery Landbridge Petrochemical Co. has made a rare purchase of a shipment of West African oil instead of typical import from sanctioned Iran and Russia, Bloomberg reported on Nov. 14.
Ukraine needs ‘fast and focused’ help with energy security, ERBD Ukraine head says
Arvid Tuerkner’s first winter in charge of the European Bank for Reconstruction and Development in Ukraine comes with a daunting task: swiftly mobilize investment into energy companies crippled by two years of Russian attacks. Russia began targeting Ukraine’s energy infrastructure in late 2022 and has since then pounded
Ukraine's sovereign bonds surge after Trump victory as investors expect peace talks, FT reports
Ukraine’s sovereign bonds rose in price after Donald Trump’s win in the U.S. presidential elections as investors expect a quicker end to the war, the Financial Times reported on Nov. 14.
MP Yaroslav Zhelezniak: Developments in Ukraine’s parliament on economic reforms, international obligations — Issue 81
Editor’s note: This is issue 81 of Ukrainian lawmaker Yaroslav Zhelezniak’s weekly “Ukrainian Economy in Brief” newsletter, covering events from Nov. 4-10, 2024. The digest highlights steps taken in the Ukrainian parliament related to business, economics, and international financial programs. The Kyiv Independent is republishing with permission. Benchmarks
Ukraine Business Roundup — Aid to Ukraine in an uncertain future
The following is the Nov. 12, 2024 edition of our Ukraine Business Roundup weekly newsletter. To get the biggest news in business and tech from Ukraine directly in your inbox, subscribe here. As Donald Trump prepares to reenter the White House, the biggest question hanging over Ukraine is what his
Nearly 30 Russian airlines may go bankrupt in 2025, media reports
About thirty Russian airlines, accounting for 26% of domestic passenger traffic, may go bankrupt in 2025, Russia's Izvestia newspaper reported on Nov. 13.
Military donations in Ukraine plummet as war pressure mounts, Bloomberg reports
Prominent organizations such as Come Back Alive and the Serhiy Prytula Foundation, headed by the well-known Ukrainian TV personality of the same name, have seen contributions decrease by approximately one-fifth in 2024, Bloomberg reports.
Ukraine receives $1.35 billion US grant for humanitarian, social programs
Ukraine has received a $1.35 billion grant from the U.S., which will be allocated to humanitarian and social programs, Prime Minister Denys Shmyhal announced on Nov. 13.
Ukraine's 2025 budget includes $1.3 billion for weapons production, minister says
Some Hr 54.55 billion ($1.3 billion) will be directly allocated for the development and implementation of new technologies, and the expansion of defense production capacity, according to Strategic Industries Minister Herman Smetanin.
Kyiv Independent is 3 years old. Here’s a list of our consequential stories throughout the years
On Nov. 11, 2021, a group of young journalists in Ukraine fired for defending their editorial independence decided to launch a new publication that would stand by those principles. This new publication, without a name at its start, would later become known as the Kyiv Independent. Three years in, the
Opinion: The central bank can't solve Russia's economic crisis in the face of war and sanctions
Almost three years after Russia launched its full-scale invasion of Ukraine, the West’s financial sanctions have finally started to bite, triggering fierce infighting within the Kremlin over control of Russia’s central bank. Russia’s business community has remained largely silent over the past two years, even as Western
The Week Ahead by KI Insights: What we're watching this week
Editor's note: This article is an on-site version of KI Insights' The Week Ahead newsletter. Sign up here to start your week with an agenda of Ukraine-related events, delivered directly to your inbox every Sunday. ReBuild Ukraine gathers in Warsaw on Nov. 13-14 to discuss infrastructure, housing, energy, and other
Ukraine imposes emergency blackouts across country due to threat of energy sector attacks
The blackouts began as the Air Force issued a nationwide aerial alert after Russia launched MiG-31K jets, which are capable of carrying Kinzhal ballistic missiles.
American AI company Vantiq launches project to develop smart cities in Ukraine
The memorandum of understanding will establish over 100 industrial parks across Ukraine, impacting the lives of 2.5 million citizens, and helping create “hyper-modern” cities.
Von der Leyen suggests replacing Russian LNG with US supplies in phone call with Trump
"We still get a whole lot of LNG via Russia, from Russia," she said in a phone call with U.S. President-elect Donald Trump. "And why not replace it with American LNG, which is cheaper, and brings down our energy prices?"
World's largest business organization cuts arbitration costs to boost foreign investment in Ukraine’s reconstruction
The International Chamber of Commerce (ICC), will lower the costs of its arbitration court for foreign investors involved in Ukraine's reconstruction projects to encourage much-needed investment.
Metro Awakening VR release expands famous Ukrainian post-apocalyptic game franchise
Metro Awakening, the fourth video game in the popular post-apocalyptic survival franchise set in Russia’s underground subway, was released on Nov. 7 by the virtual reality (VR) company Vertigo Games.
No Azeri gas deal currently on table to maintain flows via Ukraine, Naftogaz CEO says
No deal is currently on the table between Europe and Azerbaijan to keep gas flowing through Ukraine once a transit deal with Russia expires at the end of the year, despite reports a contract was nearing, CEO of Ukrainian state-owned oil and gas giant Naftogaz said.
Ukraine expected to reopen one airport by end of January 2025
President Volodymyr Zelensky insists that Boryspil International Airport be opened first.
Ukraine Business Roundup — 5G and ski resorts
The following is the Nov. 6, 2024 edition of our Ukraine Business Roundup weekly newsletter. To get the biggest news in business and tech from Ukraine directly in your inbox, subscribe here. Ukraine is launching a 5G pilot project in three cities over the course of the next two years
Ukraine state-owned enterprises weekly — Special issue on state-owned railway company Ukrzaliznytsia
Editor’s Note: This is issue 153 (special issue) of Ukrainian State-Owned Enterprises Weekly. The Kyiv Independent is reposting it with permission. Ukrzaliznytsia’s corporate governance failures In this special issue, Oleksandr Lysenko and Andriy Boytsun highlight several events illustrating failures in the corporate governance of Ukrzaliznytsia. These relate to
MP Yaroslav Zhelezniak: Developments in Ukraine’s parliament on economic reforms, international obligations — Issue 80
Editor’s note: This is issue 80 of Ukrainian lawmaker Yaroslav Zhelezniak’s weekly “Ukrainian Economy in Brief” newsletter, covering events from Oct. 28- Nov. 3, 2024. The digest highlights steps taken in the Ukrainian parliament related to business, economics, and international financial programs. The Kyiv Independent is republishing with
Chinese state-owned company reportedly begins refusing to insure exports to Russia
Chinese state-owned company Sinosure that insures export supplies against the risk of non-payment has begun to refuse to cooperate with Russian entrepreneurs, Russian newspaper Vedomosti reported on Nov. 5, citing four unnamed sources from importing companies.
Ukraine's gas production highest since full-scale invasion's start
According to EXPRO’s calculations, gross natural gas production rose by 2.3% in October 2024 compared to the same month last year, reaching 1.663 billion cubic meters, the highest level since January 2022.
London unable to retrieve UK-licensed arms used to protect Russian oil tankers, Bloomberg reports
The United Kingdom has been unable to retrieve its weapons from floating armories offering weapons and accommodation for guards defending Russian oil tankers, Bloomberg reported on Nov. 5.
EU's anti-fraud arm investigating possible rebranding of Russian oil to avoid sanctions, Politico reports
The European Union’s anti-fraud agency opened an investigation into the possible exporting of rebranded Russian oil via Turkey into the EU, Politico reported on Nov. 5, citing two undisclosed sources.
Ukraine to receive $600 million from World Bank under RISE Initiative
Ukraine has signed agreements with the World Bank totaling nearly $600 million under the "Resilient, Inclusive and Sustainable Enterprise" (RISE) project, Prime Minister Denys Shmyhal announced on Nov. 4.
Ukraine to produce anti-drone missiles with Belgian manufacturer
"This cooperation will strengthen the Ukrainian defense industry and the protection of critical infrastructure from enemy drones," Strategic Industries Minister Herman Smetanin said.
Ukraine launches 5G pilot project
"This is one of the key steps towards the full launch of 5G in Ukraine, which we plan to complete by 2030," Digital Transformation Minister Mykhailo Fedorov said on Nov. 1.
Europe, Azerbaijan not close to deal on gas route via Ukraine, Slovakia's SPP says
"We regularly discuss the topic with our partners, but the information about the upcoming conclusion of a gas supply contract with the participation of SPP is not true," Slovakian state-run gas importer SPP said.
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